For an Accounting Equation to Balance,a Transaction Must Affect Both

question 138

True/False

For an accounting equation to balance,a transaction must affect both sides of the equation.

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Definitions:

Reasonable Notice

A requirement for the provision of timely and clear information to all parties involved in a legal agreement or procedure.

Written Notice

A formal, documented communication required in many legal situations to officially inform a party of certain actions or intentions.

Oral Notice

Notification or communication of information conveyed through spoken words rather than written form.

Commercial Illegality

The state of being contrary to the laws governing commerce and business practices.